Updated Two-Suite Residential Income
For Sale
$266,000
850 S RIVER Drive 2070, Tempe, AZ 85281
Gated Tempe condo with dual primary suites, private patios, vaulted ceilings, and access to a community pool and spa.
Property Size1,130 SF
Days on Market62
Property Features for 850 S RIVER Drive 2070
General Information
Standard status
Active
Size
1,130 SF
Property subtype
Apartment
Site & Location
Neighborhood
Questa Vida
Taxes and HOA fees
Annual Taxes
$1,177
Building Details
Building Size
1,130 SF
Year Built
1985
Listing Agency:
Compass
Listed By:
Neil P Gatten · License #SA670961000
(602) 570-6345
Source:
Alexiabertsatos
Added: Sep 3
Changed: Oct 31
Last Checked: Nov 1 at 12:43PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Compass
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Investment Insights
Based on property information with market context.
Built in 1985, this upstairs condominium features two primary suites, each with a private full bathroom and walk-in closet. The interior includes vaulted ceilings, a dedicated dining area, custom tile, fresh paint, and a fireplace. Two private patios extend the living space and provide outdoor areas for Arizona living.
The property is located in a gated Tempe community with a pool and spa. It offers access to Arizona State University, Tempe Town Lake, downtown Tempe dining and entertainment, and Loops 101 and 202. The residence is positioned at 850 S RIVER Drive in Tempe, Arizona.
The property is located in a gated Tempe community with a pool and spa. It offers access to Arizona State University, Tempe Town Lake, downtown Tempe dining and entertainment, and Loops 101 and 202. The residence is positioned at 850 S RIVER Drive in Tempe, Arizona.
Key Highlights
- Two primary suites, each with a private full bath and walk‑in closet
- Upstairs condominium in a gated Tempe community
- Two private patios and a community pool and spa
Financial Insights
Estimated NOI and Cap Rate
NOI / Yr
$15,315
Cap Rate
5.76%
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,300
$306.3K
Cap Rate 7%
$218,786
$218.8K
Cap Rate 9%
$170,167
$170.2K
Market Conditions
NOI Build-Up for 1,130 SF
Gross rent
$29.6K $26.16/SF
− Vacancy
−$1.7K −$1.52/SF
EGI
$27.8K $24.64/SF
− OpEx
−$12.5K −$11.09/SF
NOI
$15.3K $13.55/SF
Area
Tempe, AZ
Vacancy
5.80%
Lease Rate
$26.16 /SF/Yr
Expense Ratio
45.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap Rate 5%
$306,300
Cap Rate 7%
$218,786
Cap Rate 9%
$170,167
Alternative Uses
Best Use
Apartment 5plus
$218.8K
$191.4K – $255.3K
NOI $15,315 @ 7.0% cap · market cap 5.76%
Second Best
—
—
no second resolved use
Theoretical Best
Office A
$355.3K
$310.9K – $414.6K
NOI $24,874 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
How Realmo checks its estimates
Location Intelligence
Trade Area within ½ mile
1,530
Businesses Nearby
Explore this area
Business Placement
Demographics for 85281, AZ
69,218
Population
32,475
Households
2.1
Avg Household Size
26
Median Age
49%
College-Educated
91%
High-School Grad
13.3 sq mi
ZIP Area
5,204
Density / Sq Mi
$59,084
Median Household Income
$32,805
Median Earnings
$1,531
Median Rent
$364,200
Median Home Value
Frequently Asked Questions
What type of property is this?
Residential income property - Gated Tempe condo with dual primary suites, private patios, vaulted ceilings, and access to a community pool and spa.
Where is this residential income property located?
The property is located at 850 S RIVER Drive 2070 Tempe, AZ.
What is the asking price?
The asking price for this property is $266,000.
What are key features of this property?
This property features: Two primary suites, each with a private full bath and walk‑in closet; Upstairs condominium in a gated Tempe community; Two private patios and a community pool and spa
